5 Reasons Using Inventory Management is Beneficial for Your Business

Written by Eurostop

Reading Time: 2 minutes

Inventory Management

Every retail business, no matter the size, relies on processes to help them keep track of the products they have in stock, orders, pricing and other aspects. Gone are the days where you need to spend valuable staff time and resources to accomplish these tasks. Nowadays, stock control software can provide a variety of automated solutions to help increase efficiency and save your business money.

However, if you’re still not entirely sold on the idea, the team of experts from Eurostop has collected some of the most attractive features of a stock control system for you below, so take a look!

Valuing your stock

Stock control software should enable you to evaluate the value of your retail stock.  It will allow you to calculate how much you spent on your existing inventory and how much you spent on stock already sold.  A good stock control system will also calculate profits and margins to monitor how your business is performing.

Forecasting

Predicting trends and future costs for your business will help you ensure your company remains competitive in the years ahead. Stock control software helps with forecasting by providing in-depth data to help determine the demand for particular products, how much you should order and invest in inventory, and more duties based on insights and market trends.

Security, Integrity & Collaboration

The right stock control software goes above and beyond simply keeping track of inventory, it also provides added security and integration solutions. All of your data is stored in a central system and you control what it’s used for and who has access to it. Additionally, authorized staff can easily access the central data, which can ensure that everyone is using up to date and accurate information.

Inventory Management

With the right stock control software, you’ll be provided with inventory management solutions designed to help your business maximize profit. This is because you’ll be able to easily manage the purchase, delivery and selling of stock by automating such processes. This, in turn, ensures that there’s never a situation where you run out of your products or stores are not stocked correctly.

Price Management

Through the use of stock control software, you can easily administer and monitor product pricing. By using inventory management software, you can get a handle on the pricing process by tracking the costs of products from their point of purchase to when they leave your brick-and-mortar location, markdown products from your central system and synchronise pricing across your EPOS estate.

Let us be your stock control software provider!

To learn more about the stock control software solutions available from Eurostop, contact us online today. You can also call +44 (0) 20 8991 2700 to learn more about our retail EPOS solutions and services.

 

Eurostop

Editor at Eurostop Ltd

Eurostop Ltd provides omnichannel retail software and services to international retailers in the fashion, footwear and retail industries.

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